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even further into record territory. >>> the treasury department says the country's budget deficit dropped to its lowest level in six years, during 2013. the federal deficit was $680 billion in the last fiscal year. that's down from about $1.1 trillion the previous year. cnn global economic analyst, managing editor of "time" magazine. so it's a dramatic -- about 15% drop in the deficit, which is still high, but a lot less than it used to be. what happened? >> well, in short, the country's growing again. we have been in a recovery for the last year. hasn't felt like one to a lot of people, but growing your way out of a deficit is always the best way to do it. that happened during the boom period of the clinton years, what a lot of people have been hoping would happen once we got past the fiscal headwinds in washington, that we get back on a growth path. what's interesting, though, there is actually a cbo study out looking at the longer term impact on budget deficits. and we have to keep growing faster in order to keep it down. we go back to a 2% economy, those numbers will tick righ
could save. liberty mutual insurance. responsibility. what's your policy? >>> the federal deficit plunged by more than $400 in the last fiscal deficit. the sharpest drop since the end of world war ii. alison kosik is in new york to tell us why this happened. >> the federal budget deficit is at its lowest level in five years. the deficit is the difference between what the government spends and takes in. that dropped to $680 billion in 2013. to give you some perspective, during the financial crisis, it shot up above $1 trill in 2009 as the economy tanked and government bailouts became the norm. here is why it is happening. the economy is getting better over the last few years. the deficit has been shrinking. also, we are paying higher taxes. all that means more revenue for the government. the government has cut back on spending. the republicans, they still insist that the budget deficit is still too large. if they are looking for a fight, they may not get it. congress agreed to a bipartisan budget deal. mid-term elections are coming in the fall. a strengthening economy is removing m
budget cuts through the 2011 deficit-driven tea party threat to default on the debt. and now chuck hagel is carrying those out and folks like senator rubio and other colleagues are saying we don't like the thing we made you do under the threat of default. >> there is no democrat that causes them more trouble than what 2ed cruz causes them. they don't have a majority in the senate, the republicans don't, because of ted cruz and his ilk who have been pushing these candidates who can't possibly win when they get the nomination. the democrats have to secretly be watching this and whatever, you know, personal dislike they have for cruz, they have to sit there in the senate and go we are so lucky that ted cruz is just ruining life for republicans in the senate. >> oh, yeah. democrats absolutely feel he's been a huge thorn in the side. he's a messaging nightmare. and when it comes to senate parliamentary procedure, which is something you and i happen to have the benefit of knowing a little bit about. he's also a liar. and it makes republicans look really bad. there is such a thing as a real fil
has supported, would reduce our deficit by hundreds of billions f $s, finally secure our border, restore the rule of law within our country, and ensure that never again do we have millions of people in this country illegally. more than a year ago, the new democratic coalition helped pave the way in immigration reform with a list of detailed principles on immigration reform. it will reduce democratic back logs, reunite families, create jobs for americans and spur competitiveness. in august we issued a letter to speaker boehner demanding he introduce a comprehensive immigration reform bill and if he failed to to so, we would introdouse our own. no bill was forthcoming so new democratic co-legislation members worked with a diverse group of colleagues on both sides of the aisle to introduce the house's only bipartisan comprehensive immigration reform bill, h.r. 15, last october. since then, we have met with countless stake holders from business owners to law enforcement to agriculture to the faith-based community. all who support moving the ball forward and support our bill, h.r. 15
said she was disappointed that it doesn't take any steps to reduce the deficit by raising taxes on upper income americans and senator schumer who is from new york which is one of the highest state taxes in the country took issue with the fact that it eliminates the ability of state and local taxation which is a big thing in california, new york and other high tax states. so they're picking it apart in a way that suggests they're not interested in engaging on it or using it as a starting point. i would like to see them do it just to see where they get. i don't think it would happen, but i think it would be fascinating and it's a real opportunity that sthey shouldn' write-off. >> and on the democrat being side, this proposal includes a bank tax. there are a numb democrchmber o eliminates the so-called carry interest about thatthis proposa tax. there are a number of -- and eliminates the so-called carry interest about that a up 1/2 democrat would be uncomfortable with that as well. >> including schumer. >> exactly. >> earlier brian said something about troll going and i feel they h
there is a slight chance of rain and of course, much needed for snil a severe rainfall deficit. >> spencer, thank you very much. >> and just ahead, lacing up a woman finds herself a celebrity after putting on running shoes. plus... >> it's sort of like body by siri. technology bringing the benefits of a personal trainer in a small, wearable device. that is at 6:00 >> and going to break, polar bears welcome google maps is now available in the arctic. back in a moment. hales corners, wisconsin. nice pass by alyson dudek. can she hang on to that spot? and she does! [ male announcer ] with the u-verse wireless receiver, your tv goes where you take it, allowing inspiration to follow. ♪ [ dad ] looks pretty good, right? [ girl ] yeah. [ male announcer ] switch to u-verse and add a wireless receiver today. ♪ nnie-o walwhere every thursde ia switch to u-verse and add a wireless receiver today. where every thursday people ride 10 miles for tacos. we thought wsurprise them with a better kind of taco made with jennie-o ground turkey cooked thoroughly to 165. i feed my kids turkey tacos over regular taco
. in a statement he pointed to recent success including turning the state deficit woo into a surplus. two republicans are also running. one is the new face of the republican party and describes himself as a social libertarian. the tea party favorite. you can read the full text of the re-election statement by clicking on the hot topics section on our website. >>> we're closer to the to. it'll raise by $1 followed by another dollar increase over the next two years for $8 by 2018. the full board is scheduled to vote tomorrow. san francisco mayor says google has -- youth program over the next two years. google's donation is a great first step to partnering in the affordable crisis. >> google said to us no strings. we think we should be and can be even better corporate citizens. >> google has been the target of protests over its commuter buses which use city bus stops. google and other tech companies are accused of the contributing to the cost of living. they're buying properties and displacing low-income families. barbara boxer is causing for an investigation into a rare polio like dz that's
goes from $5 to $7 in four years. the bridge district faces a $142 million deficit the next five years and the tote is at 10:00 a.m. >>> the coast guard released new video of a rescue at china beach. two teens saw a woman struggling in the water before 1:00 o'clock yesterday afternoon and both slipped counsel the cliff to pull her to safety but they could not get back up. teams arrived a short time later to help all three. this is video from sky 7 after being treated by medics and the woman was hosted into a chopper and taken to the hospital. it is not cheer how the woman ended up this the water. >> the pictures show a sun break from yesterday and we are not seeing that, this morning. >> not this morning. steady rain and the heavy rain now moving through the east bay and the north bay and other aspects of this system, the winds, they were sustained at 24 miles per hour as fast as i can find on live doppler 7 hd and that is up around napa and the rest of us around 10 to 20 miles per hour and we can get gusts higher. that is why we have the wind chill advisory until 10:00. the gusts are
budget deficit in the next five years of $150 million. >>> the city of coopertino is not happy about plans to expand highway 5. their filing a letter with their concerns. they say it would discourage carpooling. those allow single occupancy vehicles to pay a toll to use that lane. if funding and project approval come in on time this could happen in about three years. >>> the northern california couple that found at least $10 million in gold coins owe millions in taxes. >> their discovery was just made public, but we know the gold country couple found the coins last year. according to the tax code, people that find property that have been lost or abandoned have to pay on their loot. they may have to pay about half of it, about $5 million, in state or federal taxes. >> i would still take the $5 million left. >> yeah. >> things continue to develop, just in the past 5:00 there has been a marine warning issued off of the coast of san francisco. visibility reduced with heavy rain falling and even potential for a waterspout as we head through the next couple minutes with this particular sto
persistent concerns and deficits over the course of the year under the previous government and current government with respect to freedom of association, freedom of assembly, security force abuses, protection of religious minorities. >> countries like china, turkey and saudi arabia were mentioned in the report for renewing restrictions of press freedoms. >> throughout the year many individuals were silenced as well. the saudi blog was sentenced to prison and 600 lashes for espousing liberal thought. >> much of the world live under authoritarian rule and many realities do not compliment international laws. in recent decades democratization and economic progress has i lifted hundreds of millions of people out of depression and depravation. the world is a better place than it's been for more people in more places than ever. but beatings, jailings, discriminations, overbearing state power and in some places state instability in others still threaten the lives of many. we have with us director of freedom houses, freedom of the press index which evaluate the press freedom everywhere in the w
lending that will be done. in other words, the tax will go not to reduce the deficit or debt and it will be less lending. why would we be doing that? it makes no sense. spoke with a hunt representative and i want to get your take. to 25, and you are right, 99% of taxpayers will be at 25% or less. 99% and a when i was in school. what we do that is have trade-offs. >> back to the one percent argument. does this thing stand a snowballs chance in hell passing? >> for the bank tax, i hope not, cost -- because you will have less lending. the panel that i was on, and simpson bowles, better known to the general public, we all recommended dramatic reduction rates and elimination of most exemptions, deductions, and credits. that is the only way you solve the problem. if you go at it piecemeal, whether a bank tax on mortgage interest eduction, you never get it resolved. the reality is you want to balance the budget and get the debt in line with where it ought to be. you are going to have to do very dramatic things. i am glad that conversation is starting. you are known as one of the mos
have large budget deficits, when we move out to 2018, baby boomers begin to retire if great numbees. lou: why are the republicans having a hard time remembering that it is about reducing will left of spending here? why is that difficult in that document that he put out there, in my opinion, could have come from the obama white house. >> mm-hmm, that is -- how do you curb spending overtime, that is politically unpopular there is the problem. when you talk about changing tax code, people are not go many are not going to are having happy, if they lose tax deductibility of for municipal bonds. lou: i think this document will reside to the sidelines, at the very best. lou: there is really no escaping retal. >> hunl demands to be made of federal government not too many years from now. lou: john lonski thank you, we appreciate it. >> new reports city nationwide are doing away with red light cameras. among concerns about the red lights, what they really amount to, their worth. their invasiveness, what they increase traffic accidents. usage of these cameras has fallen. by 6% since 2012. 7 st
, it would be about $660 billion. and that just covers today's deficit. >> everyone contribute to social security and everyone will take advantage of it when they hit and all the glh in the thinking of medicare. >> what we faced up to animal entitlement by letting people opt out? >> would you consider opting out of the whole system under one condition? donath the government for anything. >> we got a standing ovation. so what is wrong with that? >> i take care of myself and. >> we are doing a real-time experiment over the past couple of decades. we have been seeing the 401k programs that have been meant to type about retirement security. >> people suffer. john: this man was fired after working 35 years for the city. he had hoped to relax and travel. now at age 66, he is a security guard at the local mall. >> we put our money in every payday. >> i think that is very important as to why there should be federal programs. they're going to come and go with the economy. it used to be an industrial powerhouse. >> politicians are either good or responsible. >> i think it will have this. >> even t
was caused by the anthropologist to address the deficit in the current scheme. i think that they've now decided that their patience has run ads and they're going to an extent notice of dispute. so i think that at one behind the scenes efforts are continuing in a bid to find a way to try and deal with this because it is not a traditional ira dispute in destinations dispute. it's hard to get all the participants out into the room so they may have to find a different framework but those efforts are continuing as of now they have succeeded and the timing of any potential action is significant if not it is indeed because of the week that dispute or four hours doesn't sound like much but for average between five am and nine a m that's when the center for the day gets started. it has an idea at that stage on that day has knock on effect. remember this is one of the busiest times of the year kitchen sink optics day weekend supplementing you've got an offer on things happening so not a great time and a very talented companies are absolutely furious that this notice has been tapped on my fingers
a growing deficit. the hikes would be incremental in april of this year the toll would go to $7, two years later in 2016 it would be 7:25. then the following year 750 and finally $8 in 2018. important to note though that for drivers with fast track the $1 discount would remain in effect for each of those toll hikes. >>> the b.a.r.t. board of directors met tonight to discuss a measure that would effectively ban strikes by bart unions in the wake of two strikes last year. the board just discussed this night to see if there is any support. at this point there may not be enough. the board would call for a -- it wouldonly be an advisory measure. >>> a federal appeals court sited with a school district in a case involving student who wore american flag t-shirts on cinco de mayo. authorities ordered those students to turn their shirts inside out. the school officials were concerned that the shirts would anger latino students who were observing the mexican holiday. the court said because of racial tension at the school, administrators had the authority to limit the civil rights of students in orde
four years. the bridge district says they need that money to close a growing deficit. those hikes would be incre mental. in april of this year, the toll would go to $7. two years later, 7.25 and then the next year 7.50 and finally $8 in 2015. if you drive and have a fastrack, that will stay in effect for each of the toll hikes. >> still encourage people to use that. >> yes. >>> 7:10. a rather unusual police response after a fatal crash in pittsburg early this morning. mum at 7:30, why cops approached a crash car with their guns drawn on a major roadway. >>> get me out of here. that's what a lot of travel agents are hearing in parts of the nation right now. what's causing this reaction and where everyone is going. >>> good morning. right now we still have very tough conditions for your commute as we look at 280. a lot of standing water. we'll run it down for you, tell you how the drive times are being affected by the storms. >>> no way of getting around it. we're getting blasted. around half moon bay and pacifica heading north towards san francisco there is a really strong cell. we'll ta
. the bridge district says it needs the money to close a growing deficit. for drivers with fast track, the $1 discount will remain in effect for each of the toll hikes. >>> ktvu is proud to sponsor a first-of-its-kind event coming to the bay area. 16,000 students will fill oracle arena in late march to hear celebrity speeches and performances. the event is called we day. you can't buy tickets. the only way for kids to go is to earn a ticket by making a positive difference locally and globally. over the next month, leading up to the big event, we'll be sharing sawyers of children and schools doing just that. today, julie haener takes us to an elementary school on the peninsula. >> i don't think we've talked about how free the children started. >> reporter: at this elementary school in palo alto, the principal is inspiring young minds by encouraging students to get involved in the international charity known as free the children. >> we've been doing a lot of sales like every time we have a playdate, we work on like -- we bake things. >> reporter: students such as sophia and sienna are among tho
the irs money the revenues will go down the deficit will go on. it makes intuitive sense to say if you give the irs more money they can collect more revenue. it sounds like it makes sense, but there is no empirical evidence. fact, at times just the opposite is true. 2001, 2009 the appropriations was increased and the revenue collections went down. obviously there are other factors than just how much money era scott. the up to look at inflation, population, tax policy, a lot of different factors. in fact, last year, 2013 is the best year ever. we collected almost 3 trillion. the most money ever collected at a time when this sequester was going on. so there is less money for the ira's to have. so all of that is this to and i don't necessarily believe that higher level of spending it was a higher level of service. and that is why i think we have an oversight hearing. it's not just how much you have been and you spend it. i think how you spend it can actually improve even if you don't have as much as you might have been his everybody knows the government needs money to provide services. bu
, and showed that it would reduce the federal deficit,. >> and you trust the congressional budget office to estimate the budget of congress? >> and he's not the only one who drank the cool aid n states that have rejected it the majority of citizens foolishly want the expansion. ashley landis explains. >> i understand that we are not delivering the most popular message here. but certainly low income families who are really struggling are going to be hard-pressed to understand all of the nuances. >> they're just so busy being needy they don't knows what's going on. >> i decided to talk to these misguided medicaid want a have's who are hopelessly hoping for help. >> i have environmentally induced asthma and don't have a way to get test. >> my wife has disk disorder. >> i know you feel like you want medicaid but medicaid expansion hasn't been approved in your state. and it's a good thing. it's better for america. >> that seems like the most ridiculous thing to say. how is it better for america, for people who have treatable conditions to become permanently crippled? >> we can't afford it. an
the deficit sharply. that will end the corrupt subsidies to the coal and gas sector. >> where does this leave the eu? this is a country that if it were to become part of the eu would be bringing on a whole a lot of problems. it is effectively another grease type situation in terms of being in debt. eu'soes that leave the feeling toward ukraine knowing if they were to welcome them in, they would be taking on most -- a host of economic problems. ? one of the wings to bear in mind -- one of the things to bear in mind is that the ukraine is split between the east and west. many people in the west are pro-europe and those in the east are more pro-russia. i think we will have to wait to see what happens with the new government and whether they can forge a national unity before we can start talking about what this will mean for europe. >> thank you very much for joining us and we will continue checking in throughout the day. x and the senior fellow at the peterson institute in washington, d.c. you are looking at a live shot of the deposed ukrainian vichdent victor yanuoklo holding a press conference
that billions of dollars to our deficit every year. insteadrats, we believe of more tax breaks for the few, we should make investments to grow the economy for everyone. that's what we believe. [applause] opportunity for all means guaranteeing every young person access to a world-class education. [applause] ago, justfour years an example, four years ago we took on the student loan system that gave billions of taxpayer dollars to big banks as part of the student loan system, even as there were young people out there who were not getting the help they need it to go to school. so we use the savings to help more students afford college. today, more young people are earning college degrees than ever before. you would think republicans would say, you know what, that's a good idea. good for you, mr. president. [laughter] bno, the republicans still want to return that money to the banks. as democrats, we are fighting to make sure that more americans can afford higher education, whether it is technical training, community colleges, four-year university. that is what we believe. that is what we are fight
that there are substantial long-term budget deficit issues and a need for a sustainable physical path for the country to focus to the maximum extent possible on fiscal changes that would address the longer run issues that will be associated with rising debt-to-gdp ratio over decades and to try to avoid doing harm to the recovery, and i would take the same general position. >> but in the short run there is a value of additional fiscal stimulation in the economy that will complement what you're already doing and make it easier for you to withdraw the quantitative easing. is that a fair comment? >> i think the economy is beginning to recover and we have made progress. and, you know, at a minimum, i would hope that fiscal policy would do no harm. >> just one other quick question you have looked at an unemployment rate of 6.5% as a point of inflection if you will. but one of the aspects of the current employment situation is that labor force participation is falling that 6.5% might not capture the reality of the current economy and be an adequate sort of measure when you should begin or how you should beg
has pron he took a deficit nowt i a surplus, rating agents have given us better marks. i tnk he is making progress in terms of environment and other issu. i question whether we need to devide the state to 6 pieces, but even if weid. the u.s. senate would have to apove the admission of 10 new senators. in to their body, diluting their power. why does senator fro nevada or alabama or ohio want to giv california 10 more senators? neil: his logic does make sense, at leastase level, thats that it is a very big state. unwieldy state,n so far as interests and you know even physical concts are very desperate throughout the state, i don't know that means you have to have 6 different states, butt makes it disfunctional. what do you make of that argument and why the 6 pieces? >>'t know why the 6 pieces we have n and south carolina, and north and south dakota, two states is possie, that was tried 1 in late 1850s, but. there is no way on earth that the u.s.ongress is going to dilute itsower and give more power to california. as you know they hate athing big, wre the bigge state, we tend to
the irs and rulemaking authority on the front page, and the trust deficit, lies between those who enforce the law. and fairly and impartially, we know it hasn't been occurring and mr. serrano and mr. george had a dialogue you. your point was one that i was going to make, it was in may of 2013 when lois lerner came out and apologized and said it was inappropriate to make comments to that regard. i think regardless of the original motive that is what we're trying to determine, how this happens, the motivations, let's talk about what happened and we will litigate who did what and do that and in this moment i want to move forward a bit and say what we doing to ensure this doesn't happen again. we talked about nine recommendations and their implementation, in your testimony both written and to the chairman's question that they're following the recommendations of the like to talk about the final 1 c 4 and rules that are proposed now, legislation before the house on this, this has become a bipartisan moment of condemnation. the aclu arguing that these are putting a muzzle on public speech and li
. cutting spending and raising revenues. really important is reform. a lot of the budget deficit is because ukraine has a very high energy subsidies. it pays a fifth of the import price. energy has to rise as well. that's really, really important. it is important for getting rid of corruption. other bits are likely to be stabilization. that's the good news. the final bit is banking sector reform. the exchange rate when it weakens will credit a big hole and that one needs to be filled. >>> take a look at this, would you? is this the future of aviation? investors behind this giant airship believe it could revolutionize oil exploration to disaster relief operations. it will be able to lift 50 tons of cargo. it has been sold back to the british firm. it has won the financial backing of one of britain's most success rock stars as richard wescott has been finding out. >> reporter: inside britain's big of aircraft hangar, something is growing. beating into life the world's longest flying machine. looks like an airship, but it isn't because it doesn't float. what you can see from here is that uniqu
deficit over the next five years. >> brazil's celebration leading to fat tuesday. in rio de janeiro the mayor will officially hand over the keys to the city to kickoff four days of party. the holiday offers observers of lent a last chance to go wild until easter sunday. >>> the morning news continues at 5:30 with the top stories. >> the second storm hitting the page areas meaning more snow for the sierra and what to expect if you hit the slopes t >>> live from the kgo-tv broadcast center this is abc7 news. >>> good morning, 5:30 on friday >> it is raining. the heavyiest part of the rain, mike? >> we are getting scattered areas heavy rain on 280 at 17. we have flooding because of the heavy rain that has fallen. we look at what is going on around fremont, the is fell grade, hayward, to pleasanton and livermore and the whole area is getting wet. you can see highway 4 is wet this morning. that is where the best radar returns. north bay is getting a break. it is stepping over the mountains to the central valley. you can see the heavier rain is law we will have an hour of steady rain and
district says it immediate the money to close a growing deficit. >>> the hikes would be incremental. in april of this year it would go to $7 $7. two years later $7.25, then $7.50 and by 2018 it will be $8. >>> time is 5:17. rain, wet roads, lots of crashes. sal, the idea give yourself plenty of time because it is dangerous. >> i think everyone who has walked into the building has said, this is not fun driving out there. the latest crash. two badly damaged cars. and we have seen this already. one lane is getting by but most of the freeway is blocked here 24 at 580 and pretty hard crash in that area. just be careful if you are driving through highway 24 and through the tunnel you will see a lot of slow traffic. we recommend taking bart. the more it rains hard, the more we are going to have crashes and when it lets up, the traffic is going to get better. and also gusty winds on some of the bridges. let's take a look at toll plaza. right now it is light here coming into san francisco. we are hoping far lighter day because it is friday. we're also looking at the south bay. the rein has
that is buried and driving me crazy which is the decline in the deficit. nobody wants to hear anything about it, because it went from the trillions and you know the president could say we have cut spending here, and maybe because of the gridlock, but there is not a lot of supply of bonds. how about saying that. >> well, there is a decline in the deficit, but i don't know how much of that s is due to th proceeds of fannie mae and freddie mac. >> and the fdic had a good trade in there. good trading by them. >> and we have not talked about it often enough, but we have talked about the lawsuit initiate initiated by perry and berkowitz and ackman owning the common which is up sharply, but they are way past paying them back. and the president -- >> and the president has said that the common -- >> and the third amendment is all in place meaning that all of the profits are e sweeping to the government helping the e deficit. >> it is a windfall due to the rising pricing in housing, but the president said that the common should go to the treasury and he made that statement, and the fdic knew that the pre
on personal character traits, which is you have a deficit of hope and a surplus of hurdles. so they try to deal with the hope part of it. they say let's build you up, build this character up because you have all the hurdles to deal with. i say let's do both things as once. you have to deal with the structural problems, all the things we say that are not really getting covered but they are. because if somebody is predatory lending for mortgages and that's disproportionally black people, that is structural racism. that is a structural violence against the black family, against the black community, against black men. every one of those things, whether it be mass incarceration or disproportionate drug arrests or any of that, violence in schools or suspensions of black boys higher ratio. so we have to look at those and call those out for what they are and say, we have to deal with all of those both what the boys need to do differently but what we need to do differently as a society. >> i also want to bring in boyce watkins founder of your black world.com. boyce some people already on board w
to president obama giving him votes on things that didn't work. stimulus that didn't work. deficit. affordable care obamacare which is causing real disruptions for american families and american businesses got to put it in a bigger frame i will vote with president obama and work with him when i think is he right and i will work against him when i think he is wrong. but my democrat he opponent. tickly the democrat inel couple bent did nothing but get along and go along with whatever president obama wanted. >> let me ask you about the tea party impact in the u.s. senate. even this tuesday is the senate primary in the state of texas. senator cornyn suspect for re-election. senator cruz is not going to endorse him fellow texan. what's the tea party impact and what's the big picture to senator ted cruz won't endorse his colleague? >> well, it's not just senator cornyn. he has said he won't take a roll -- role in any senate primary this year. not just colleague every race around the country. did he raise money earlier for the senate conservative fund. raising money now for the madison project, both
the days of roman empire. its budget deficit is more than a billion dollars. that is the problem. local officials are pleading for a bailout. the country has other problems. the unemployment rate is highest ever, 13%. landing in south korea where the pastor of the world's largest church has been convicted embezzling $12 million. come on. his megachurch congregation top as million worshipers. each church has rows of atm machines in the hallway. that was dead give away something afoot. he has been given a three-year suspended prison sentence and will mead to pay $5 million in fines. >>> do you ever have too much money? i don't think so. don king doesn't. we'll ask him during the break. we'll be right back. in the new new york, we don't back down. we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new yk state. move here. expand here. or start a new business here... and pay no tax for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find o
, imbalances you have because of the current account deficits, you need to keep monitoring fiscal policy quite tight. you have to be a lot deeper into the upcoming fiscal year before you see contraction growth and that has to come on the back of implementation of projects, some of the economic reform issues that have been announced since may 2012. >> so i guess may is the key if we're looking for measures like this to be introduced. do you think that's going to be a turning point for the country? >> well, i think there's a few questions about will the government get enough of the mandate and therefore be able to, on the back of that, implement policies, but that remain toes be seen. so it might not be easy for some of the incumbent parties to necessarily muster the vote they need to have. but it's true, post elections, you know, in principal we should be more a possibility to get more on the petition side of these policies, let preoccupation with elections nearing, if you will. the kick start of the investment cycle, all of that cannot be turned on overnight. it takes a while before these type
mentioned his work on repairing the state's budget and job creation. brown turned 25 billion dollar deficit in 2011 into a surplus this year. his approval rating is at an all-time high at 58%. the state's open primary is in june. >>> on the cover of "people" magazine, paula deen is opening up about her scandal last summer. in the interview she says i feel like embattled and disgraced will always follow my name. it's like that black football player who recently came out. he said i just want to be known as a football player. i don't want to be known as a gay football player. i know exactly what he's saying. deen is referring to nfl prospect michael sam. i just don't think this works! i think maybe she ought to try something else, joe. what do you think? i'm wondering if perhaps she might want to just stay away from talking. >> i think she really should. it's like that. >> talking thing is not working for her. >> it doesn't work. >> it's like that black football player? >> black football player as opposed to one of the white football player. it's like that black football player. >> she started
rain showers. the deficit went up saturday morning. all have the full details on your extended forecast the 7 day around the bay coming up at 845. >>: with the rain that causes flooding and other challenges. march is an option but not this morning because there are systemwide delays to the date for riders. and that's because of equipment problems. kron4's terisa estacio is live for now without commuters are coping. >>: the delays are right now are stretching anywhere from 20 minutes to 30 minutes for the many commuter's tell me that they have been hoping for a smooth ride. by taking public transit. of commuter's tell me that today are quite frustrated. >>: what you do under the circumstances for it >>: i just wait. unfortunately this is kind of to of bart. that all bart officials are saying that today are predicting that these delays are going to be stretching from around the morning tree here along a creek terisa estacio coming up rob. you combine this water with the wind in this combined system blows through. that could be a real a real problem. lots of trees and those gray areas. the
long-term budget deficit issues in the need for the sustainable fiscal path for the country and focus to the maximum extent possible on fiscal changes that would address the longer run issues that will be associated with a rising debt to gdp ratio to try to avoid doing harm to the recovery and i would take the same position. >> but in the short run, there is a value of additional step up fiscal stimulation and also make it easier for you to begin to withdraw the quantitative easing. is that a fair comment? >> the economy is beginning to recover and we have made progress. in the minimum, i would hope the fiscal policy would do no harm. >> one other question, you and your predecessors have looked at the employment rate of 6.5% as a sort of point of inflection if you will, but one of the aspects of the current situation is the labor force participation is falling so that 6.5% might not actually capture the sort of reality of the current economy idea in an adequate sort of measure when you should begin or how you should begin to undertake fiscal easing, quantitative easing, sorry. are you
loopholes as a part of a compromise approach dealing with our media and the long-term deficit challenge is. so yes the president will talk about why it's so important for democrats to advance an agenda that is focused on expanding opportunities for all. and as he has and i have as well it is certainly worth noting in the contrast, and he will again tonight with an agenda that is focused on protecting the loopholes and prerogatives of the wealthiest and the well-connected and again from expanding or protecting the opportunity for a few. >> it sounds like a campaign. when you say opportunit see oppa few yesterday you were saying the chairman proposal has had some good potential to it. >> and they rallied around it. >> the president met earlier this weekend talked about immigration reform. >> obviously the president, like all republican leaders including those running for office themselves, is engaging in political events and he will be supportive in many ways a democrat either running for the reelection or office in this cycle. in the meantime that he is principally focused on advancing an a
powerlines in africa. financial prudence dictates we reduce our deficits by not spending the money at all. if we must spend it and must choose between africa or america, mr. speaker, i choose spending it in america. america spends more than $40 billion a year on foreign aid, money we do not have, borrow to get and cannot afford to pay back. mr. speaker, if financial irresponsibility and economic insanity have a home, rest assured they live in washington, d.c. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman from massachusetts seek recognition? >> unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from massachusetts is recognized for one minute. >> mr. speaker, two months ago emergency unemployment benefits expired for over one million americans, including 20,000 veterans and yet this house has not taken up legislation to provide these workers and families with necessary relief. mr. tierney: i rise to ask immediate action on the unemployment compensation act which pr
be running a deficit of a half trillion dollars a year. the real problem, the, i was going to say elephant, but i'm saying the big animal in the room, gorilla in the room that, that everybody's avoiding is the mandatory spending. and unless we address that, we're just going to keep digging ourselves further and further in the hole. and that is the real problem. and we're trying to, like i say, solve it on the backs of our military. can't be done. >> excuse me. what are your priorities for marking up the fiscal year 2015 defense authorization bill? >> getting it done by october 1st. that is by main, and you're going to hear, that is all i'm going to be talking about between here and october because i'm really concerned. i brought that up in the meeting with the big eight and secretary and general dempsey. it is incumbent upon us to get that done. last year we got the defense authorization bill done on the last day the senate was in session. or we would have missed it. now we have passed that bill every year for 51 years and some people think we have to do it for 52 years because we've done
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